The ______________________ Act Requires That Applicants for Mortgage Loans Must

question 144

Multiple Choice

The ______________________ Act requires that applicants for mortgage loans must be given a disclosure statement indicating whether the servicing rights could be transferred to another institution that borrowers will have to deal with during the loan tenure.

• A)Equal Credit Opportunity
• B)National Bank
• C)Federal Lending
• D)National Affordable Housing
• E)Fair Credit Reporting

---

Definitions:

Executory

Pertaining to contracts or agreements that are not yet fully performed or completed by all involved parties.

Enforce

To compel observance of or obedience to a law, rule, or obligation.

Minor

An individual under the age of majority, legally considered not yet fully capable of taking on certain responsibilities and rights.

Contractual Purposes

The intended aims or goals that parties seek to achieve through entering into a contract.